Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698932465392.pdf (New Zealand)
Reprint as at 6 November 2008 Accident Insurance (Indexation of Maximum Weekly Compensation) Regulations 1999 (SR 1999/132) Accident Insurance (Indexation of Maximum Weekly Compensation) Regula­ tions 1999: revoked, on 6 November 2008, by clause 3 of the Regulations Revo­ cation Order 2008 (SR 2008/367).

PURSUANT to section 404 of the Accident Insurance Act 1998, His Excellency the Governor­General, acting by and with the advice and consent of the Executive Council, makes the following regulations.
Contents 1 2 3 Title and commencement Interpretation Formula for indexation of amount of maximum weekly compensation Page 2 2 2 Note Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this eprint.

A general outline of these changes is set out in the notes at the end of this eprint, together with other explanatory material about this eprint.

These regulations are administered in the Department of Labour.
1 Accident Insurance (Indexation of Maximum Weekly Compensation) Regulations 1999 Reprinted as at 6 November 2008 Title and commencement These regulations may be cited as the Accident Insurance (Indexation of Maximum Weekly Compensation) Regulations 1999.

These regulations come into force on 1 July 1999.


Interpretation In these regulations, unless the context otherwise requires,— Act means the Accident Insurance Act 1998 Labour Cost Index means the Labour Cost Index All (Indus­ try or Occupation) Groups Combined, All Sectors Combined, Total Wage and Salary Rates published from time to time by Statistics New Zealand.
Formula for indexation of amount of maximum weekly compensation The insurer must adjust the amount that, on 30 June 1999, is speciﬁed in clause 21(1) of Schedule 1 of the Act in accord­ ance with the formula in subclause (2).
The formula has the following steps: (a) First,— where a b c is 1096, which is the Labour Cost Index for the June 1998 quarter is 1075, which is the Labour Cost Index for the June 1997 quarter is 1.0195, which is the result of the division worked out to 4 decimal places; and (b) Second,— where— c d is 1.0195 is $1,277.18, which is the amount that, on 30 June 1999, is speciﬁed in clause 21(1) of Schedule 1 of the Act r 1 1 (1) (2) 2 3 (1) (2) 2 Reprinted as at 6 November 2008 Accident Insurance (Indexation of Maximum Weekly Compensation) Regulations 1999 e is $1,302.035, which is the result of the multipli­ cation worked out to 3 decimal places; and (c) Third, round e up to the nearest cent to give $1,302.09.
The insurer must apply the adjusted amount of $1,302.09 to payments of weekly compensation for loss of earnings made on and after 1 July 1999.

(3) MARIE SHROFF, Clerk of the Executive Council.

Explanatory note This note is not part of the regulations, but is intended to indicate their general effect.

These regulations relate to section 102 of the Accident Insurance Act 1998.
They prescribe the formula that applies to adjust the maxi­ mum amount of weekly compensation for loss of earnings speciﬁed in clause 21(1) of Schedule 1 of the Act.

The maximum amount spe­ ciﬁed now is $1,277.18 a week.

On and after 1 July 1999 the maxi­ mum amount will be $1,302.09 a week.

The regulations come into force, contemporaneously with the Act, on 1 July 1999.

Issued under the authority of the Acts and Regulations Publication Act 1989.

Date of notiﬁcation in Gazette: 27 May 1999.


3 Notes Accident Insurance (Indexation of Maximum Weekly Compensation) Regulations 1999 Reprinted as at 6 November 2008 Contents 1 2 3 General About this eprint List of amendments incorporated in this eprint (most recent ﬁrst) General This is an eprint of the Accident Insurance (Indexation of It Maximum Weekly Compensation) Regulations 1999. incorporates all the amendments to the regulations as at 6 November 2008.
The list of amendments at the end of these notes speciﬁes all the amendments incorporated into this eprint since 3 September 2007.

Relevant provisions of any amending enactments that contain transitional, savings, or application provisions are also included, after the Principal enactment, in chronological order.

About this eprint This eprint has not been ofﬁcialised.
For more information about ofﬁcialisation, please see “Making online legislation of­ ﬁcial” under “Status of legislation on this site” in the About section of this website.

List of amendments incorporated in this eprint (most recent ﬁrst) Regulations Revocation Order 2008 (SR 2008/367): clause 3 Notes 1 2 3 4